Thoughts on the Fed Decisions: - As expected no change to the interest rate. They always wait for very clear signs to either side before they act. So this marks the second meeting with no rate cuts. - They downgraded growth projections for 2025 significantly (note the growth weaknesses we have highlighted in the table from the quoted post) - They do recognize that risks are increasing with trade war and spending concerns. (note the weaknesses we have highlighted in the table from quoted post) - Now Summary of Economic Projections: shows two expected rate cuts in 2025 - QT is slowing April 1st - Fed increases their inflation forecast for 2025 (Note the tariff risks that we have highlighted before; however, we disagree with the Fed on this one. The weaknesses threatening growth could offset the inflationary effects on tariffs)